How can I load funds from an Indian Bank to Paypal? Should I - Convert it to dollars ? - How much time will it take? The approx amount would be close to 1 lakh rupees.
As for as I know you can't directly upload money from your Indian Bank to PayPal account. You will have to either exchange with someone else (there are lots of people desiring to get INR for PayPal) or use exchangers (Third Party, not official)
I believe that all you can do is to use Paypal as a conduit by paying through a credit card or with existing funds. You cannot fund the account unless you are paying someone.
As far i know loading funds is not an option for Indians at the moment. Sad, but it isnt for the moment. My suggestion : Buy paypal. You can find " N " number of DP'ers(Indians) who make over $3000 per month who can tranfer paypal funds to your paypal and you can transfer INR ( Indain Rupees) to them. You may PM if you need any help further or have any questions Next paying through card is possible only if your paying someone else for the service n not urs. Here you may need a friend of urs to pitch in who has a verified apypal account n u too need one. You may send moeny from your credit card to his account n then he can transfer funds to your paypal account. If you dont have anyone to do you may ping me. I'm mostly available on DP (close to all the time - its an addiction now)
Well, actually if you already have a credit card, you can use it to fund-on-demand your verified paypal account, you do not need to do it through a 3rd party. As long as you are not from the US, you cannot make use of the balance in your paypal account to participate in any Paypal Money Market plans. Most people wants to take out as much money as possible from Paypal and not so much keeping it there. I don't see an advantage in loading a paypal account and loading from a bank from India is not possible. If you did have an unverified account or use a VCC to get it verified then keeping money there may be asking for trouble as there is a risk of your account being limited and they ask you to verify or provide statements which can be a pain.
PayPal does not supports Indian Bnaks..at least for the time being. Just post in services forum and you'll get much requests for conversion if you pay them a good rate i.e. equivalent to paypal
VCC can be bought without going through any verification. Some don't even come with a name or linked to an address. It is like a fake ID which does not actually verify anything. There is a loop hole which people use. However if Paypal finds that your account is suspicious, they may ask you to send in your credit card statement, if you use a VCC, you have no statement. What does 'Verified' means ? VCC defeats the whole Verification Process.